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AFS Preparation

Accurate, audit-ready Financial Statements prepared to meet regulatory standards, ready for SEC and BIR submission.

What It Is / Who Needs It

Corporations in the Philippines must file Audited Financial Statements (AFS) with the SEC if their total assets or liabilities reach ₱600,000, and separately with the BIR once gross sales/receipts exceed ₱3,000,000 a year. These are two distinct requirements with their own timelines meeting one obligation doesn't exempt you from the other, so many businesses actually need to file audited statements with both agencies.
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What's Included in B&P's Service

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Preparation of Balance Sheet, Income Statement, and Cash Flow Statement

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Coordination with a BIR-accredited auditor for the required signature

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Compliance check against SEC's Revised SRC Rule 68 requirements

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BIR stamping or e-AFS confirmation receipt processing

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Filing through SEC's eFAST platform ahead of your deadline

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Requirements / Documents needed

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✓  Complete accounting records for the fiscal year

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✓  Prior year's Audited Financial Statements (if applicable)

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✓  BIR Certificate of Registration

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✓  Company's SEC Registration/License Number (determines your filing schedule)

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✓  Board/management certification documents

Process & Typical Timeline

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Records review

Your full year's accounting records are reviewed for completeness

Statement preparation

Balance Sheet, Income Statement, and related notes are drafted

Audit & certification

Statements are reviewed and signed by an accredited auditor

Filing

Submitted via SEC's eFAST, following your assigned schedule based on your SEC registration number's last digit

Why it matters

₱600,000

That's the SEC's total assets/liabilities threshold that triggers mandatory AFS filing, while the BIR's separate threshold is ₱3,000,000 in annual gross sales. For 2026 filings, corporations with fiscal years ending December 31, 2025 must file through eFAST by May 29, 2026, with different corporations assigned specific windows based on their SEC registration number, and companies with non-calendar fiscal years given 120 calendar days from their fiscal year-end instead. Missing your assigned window means penalties calculated from your original deadline not from when you eventually file.

Accurate, audit-ready financial statements, prepared right

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